New valuation by FBR jacks up CNG price

By: News Desk      Published: 12:27 PM, 16 Nov, 2021
New valuation by FBR jacks up CNG price

With another cruel decision of the Federal Board of Revenue, the prices of the CNG have jacked up by Rs15/kg in Sindh and Rs7/kg in Punjab, reported 24NewsHD TV channel on Tuesday.

Reportedly, the inflation-hit people are bound to buy expensive CNG in Sindh and Punjab owing to a harsh decision taken by the FBR regarding a change in the gas valuation at CNG stations.

Sources informed that the FBR has decided to increase the gas valuation at CNG stations to 84% in region two and the board has already issued an SFO 1465/2021 in this regard.

According to the new order, the gas valuation of the CNG stations situated in region one has raised to 82%.

Sindh and Punjab are included in region one.

As per the new valuation, the FBR will charge sales tax on new CNG price i.e. Rs134.57/kg in region one.

Before this, the CNG valuation in region one was Rs74.04/kg.

In region two, the gas valuation has been raised to 84% and as per the new valuation, the board would receive sales tax against new CNG price i.e. Rs128.11/kg.

Before this, the FBR was charging sales tax on CNG price that was Rs69.57/kg in region two.

Region two is comprised of Khyber Pakhtunkhwa and Balochistan.

In Sindh, the price of CNG has raised from Rs185/kg to Rs200/kg and in Punjab it has been increased from Rs128/kg to Rs135/kg.

In region two, the price of the CNG which runs on local gas has increased from Rs135/kg to Rs150/kg.

Reporter Ashraf Khan

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